Shytoshi Kusama Warns Of Fake Billion-Dollar Shib Wallet Claims

Shiba Inu’s lead developer Shytoshi Kusama caused a stir across the broader cryptocurrency market on Monday, ringing alarms against individuals claiming to own billion-dollar Shib wallets. Recently, the lead developer asked market participants to confirm such cases before blindly believing so, raising investor concerns globally. Besides, Kusama also streamlined ways to verify such claims, if false, echoing further frenzy across the crypto landscape.

Shytoshi Kusama Calls Out Fake Billion-Dollar SHIB Wallet Claims

In an official X post dated October 14, Shytoshi Kusama stated, “It’s come to my attention that individuals have claimed to own the BILLION dollar Shib wallets. I suggest interested parties confirm this is the case before blindly believing such a wild claim.”

Further, the Shiba Inu lead developer also spotlighted a seamless approach for verifying these massive holder claims. The developer asked individuals to let the claiming owner choose a number between 1 & 100, and publicly reveal the amount. “Then, they should send the EXACT # of Shib from that wallet to another,” Kusama added. He finally concludes by saying, “If NO for any reason (keys not with me, I’m waiting for x reason), you can assume they’re lying.”

These statements have gained significant traction across the broader crypto market, as even the top dog-themed meme coin‘s price gained considerably.

Shiba Inu Price Soars

Shiba Inu rode a bullish market wave today in tandem with the broader market trend. SHIB price gained nearly 2% at press time to reach $0.00001799. The coin’s intraday low and high were registered as $0.00001712 and $0.00001817, respectively. Notably, today’s gaining movement sparked further discussions in light of Shytoshi Kusama’s recent remarks.

Simultaneously, a recent CoinGape Media report reveals that the crypto’s rising price action rides the back of a massive 14570% surge in SHIB burn. Primarily, with 279 million coins burnt over the past day, bullish market sentiments engulfed the token.

Meanwhile, Coinglass data indicated that SHIB futures OI noted a 7% uptick in value to $50.33 million. Furthermore, even the derivatives volume upsurged 40% to $132.78 million, underscoring increased investor interest in the asset today. Altogether, SHIB garnered significant attention amid Shytoshi Kusama’s recent statements and the coin’s recent price upswing.